New Delhi, Aug. 8 -- The Union Cabinet, led by Prime Minister Narendra Modi, has approved the 'Multidisciplinary Education and Research Improvement in Technical Education' (MERITE) scheme with a budget of Rs. 4,200 crore.

According to the Cabinet press release, Rs. 2,100 crore will be financed through a loan from the World Bank.

The initiative is aligned with the National Education Policy 2020 and is being launched as a Central Sector Scheme, meaning it will be fully funded and executed by the central government through a central nodal agency.

Aimed at uplifting academic quality and employability, the scheme will be rolled out across 275 government and government-aided technical institutions, including 175 engineering colleges and 100 ...